Denim brand Paige Denim is set for a tranche of investment after private equity firm TSG Consumer Partners took a stake in the company.
Although terms of the deal were not disclosed it is believed TSG has taken a majority stake in the firm, according to reports. Paige founders Paige Adams-Geller, Michael Geller and Michael Henschel will continue to hold a significant stake in the brand.
The initial focus is expected to be an expansion of the brand into other denim products, however further expansion into sportswear, footwear and handbags could also be on the cards.
The private equity firm has been on the hunt for fashion and accessories brands and in March this year TSG took a minority stake in accessories and sportswear label Rebecca Minkoff.
TSG managing director Hadley Mullin said: “We at TSG have broadened our investment scope to encompass apparel and accessories. In the apparel sector, there’s a lot of opportunity, with [some] sub-segments having very high growth [potential].”
Mullin added: “We’re focusing on brands that are currently under-distributed relative to their full potential.”